The more you read the commentary the better understanding and interpretation you get.
So they will not transport all dirt just the massive and matrix which is 48kt which makes a lot of sense. I wouldn’t have thought Glencore would accept low grade. Based on that 3.9% would be on the cards. DFS will determine recoverability but would expect 80%.
So 48x3.9%x$36000x80%=$54m
costs?
Glencore cut?
At least a 20% profit would be made imo which is $10m. This is just 5A.
Ann: Spargoville 5A Bulk Sample and DFS Update, page-30
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